Gamesa gets 350MW of orders in $900m US deal with Algonquin

Spanish turbine manufacturer and wind-power developer Gamesa has signed a $900m deal with Canada’s Algonquin Power & Utilities Corp.

The agreement is to develop, build and sell four wind farms in the US, with a combined capacity of 480MW.

Gamesa says the deal involves 350MW of new, firm turbine orders for delivery in 2012, giving a massive boost to its US sales ambitions for the year.

The deal comprises an equity- and tax-investment structure, involving Algonquin and investment banks JP Morgan and Morgan Stanley.

"This transaction combines three of Gamesa's major goals: partnering up with new leading customers in the North American renewable energy sector; attracting investments from tier-one financial institutions...;…

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